RE-ENVISIONING YOUR BUDGET MODEL · Internal sales revenue would off-set direct expenditures,...
Transcript of RE-ENVISIONING YOUR BUDGET MODEL · Internal sales revenue would off-set direct expenditures,...
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RE-ENVISIONING YOUR BUDGET MODEL
Greg DuBois | Assistant Vice President, Office of the CFOGeorge Kolb | Director, University Budgets
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YOU
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RESENTERS
Greg DuBoisAssistant Vice President Office of the Chief Financial Officer
George KolbDirector, University BudgetsOffice of the Chief Financial Officer
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THEUN
IVERSITYO
FFLORIDA
Established in 1853 Land Grant Institution AAU Member (Public) Since 1985 16 Academic Colleges (including
Medical School) 2015 Enrollment 52,357
• Undergraduates – 34,002• Graduates – 12,117• Professional – 4,156• Non Degree Seeking - 2082
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THEUN
IVERSITYO
FFLORIDA
150 Research Centers and Institutes 2,000-acre campus 900+ buildings (170 with classrooms and labs) 2014-15 Total Expenditures $5B
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THEUN
IVERSITYO
FFLORIDA
UF Enterprise Revenue Sources FY15
Chart1
State Appropriation (Noncapital)
Student Tuition and Fees (Gross)
Federal, State and Local Grants and Contracts
Other Grants, Contracts, Gifts and Transfers from Component Units
Hospital and Component Unit Revenues
Investment Income (Net)
Auxiliary Sales and Other Revenues
Federal and State Student Financial Aid
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654120
522444
431518
207574
2673530
126601
308163
115755
Revenue Sources UF only
UF Revenue Sources - FY15
Dollar amounts expressed in thousands
UF%
State Appropriation (Noncapital)$ 654,12013.0%
Student Tuition and Fees (Gross)$ 522,44410.4%
Federal, State and Local Grants and Contracts$ 431,5188.6%
Other Grants, Contracts, Gifts and Transfers from Component Units$ 207,5744.1%
Hospital and Component Unit Revenues$ 2,673,53053.0%
Investment Income (Net)$ 126,6012.5%
Auxiliary Sales and Other Revenues$ 308,1636.1%
Federal and State Student Financial Aid$ 115,7552.3%
Total5,039,705
Less Income Before Other Revenues, Expenses, Gains, or Losses
NetMatches "People and Space" Expenses
Auxiliary Sales and Others:
Housing rent, Transportation and Parking revenues, Student Heath fees, lab testing fees, conferences and workshops, Florida University Press, food concession commissions, Medical Self-Insurance premiums (blended component units).
Revenue Sources UF only
Chart1
Dollar amounts expressed in thousands
Total $5.04 Billion
SRECNP 2014
UNIVERSITY OF FLORIDA
A COMPONENT UNIT OF THE STATE OF FLORIDA
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION1235
for the Fiscal Year Ended June 30, 2014
(amounts expressed in thousands)
University of FloridaComponent Units
Direct-SupportHealth ScienceShands Hospital
2013-14OrganizationsCenter Affiliatesand OthersTOTAL 2014Classification
OPERATING REVENUES
Student Tuition and Fees$ 508,448$ -$ -$ -508,448Tuition
Scholarship Allowances(149,793)---(149,793)
Student Tuition and Fees, Net of Scholarship Allowances358,655---358,655
Federal Grants and Contracts366,315---366,315Sponsored Programs
State and Local Grants and Contracts44,638---44,638Sponsored Programs
Nongovernmental Grants and Contracts118,723---118,723Sponsored Programs
Sales and Services of Auxiliary Enterprises (Note 13)129,942---129,942Auxiliary Sales and Others
Sales and Services of Educational Departments52,012---52,012Auxiliary Sales and Others
Sales and Services of Component Units-65,191--65,191Component Unit Sales (mainly UAA and Gator Boosters)
Hospital Revenues--663,0831,587,6992,250,782Hospitals and Physician Practice Associations
Gifts and Donations - Component Units-99,305--99,305Gifts
Royalties and Licensing Fees - Component Units-29,958--29,958Component Unit Sales
Interest on Loans and Notes Receivable1,178---1,178Auxiliary Sales and Others
Other Operating Revenues2,38141127,89644,86875,556Auxiliary Sales and Others, Component Unit Sales, Hospitals and Physician Practice Associations
Total Operating Revenues1,073,844194,865690,9791,632,5673,742,048Total Operating Revenue - based on tution gross and after transfer elimination
OPERATING EXPENSES
Employee Compensation and Benefits1,724,9141,43779,505793,7492,599,605
Services and Supplies472,507159,06555,444722,3121,409,328
Utilities and Communications62,761---62,761
Scholarships, Fellowships and Waivers, Net78,418---78,418
Depreciation123,1149,9447,80377,220218,081
Self-Insured Claims and Expenses (Note 16)(5,784)---(5,784)
Other Component Unit Operating Expenses-----
Total Operating Expenses (Note 18)2,455,930170,446142,7521,593,2814,362,409
Operating Income (Loss)(1,382,086)24,419548,22739,286
NONOPERATING REVENUES (EXPENSES)
Noncapital State Appropriations605,8906,912-7,050619,852State Appropriations
Federal and State Student Financial Aid116,994---116,994Student Financial Aid
Noncapital Grants, Contracts, and Gifts4,401---4,401Sponsored Programs
Investment Income37,474202,79258337,587278,436Investment Income
Net Increase (Decrease) in the Fair Value of Investments32,52412,736(412)3,45248,300Investment Income
Investment Expenses(3,598)(793)(876)(7,586)(12,853)Investment Income
Other Nonoperating Revenues42246,210-4,85851,490Auxiliary Sales and Others, Component Unit Sales, Hospitals and Physician Practice Associations
Gain (Loss) on Disposal of Capital Assets(2,699)1,219(655)(2,047)(4,182)
Interest on Capital Asset-Related Debt(8,048)(2,349)-(20,372)(30,769)
Other Nonoperating Expenses(2,948)485(41,334)42,809(988)
Net Nonoperating Revenues (Expenses)780,412267,212(42,694)65,7511,106,620Total Nonoperating Revenue - after transfer elimination
4,848,668Total Revenue
Income (Loss) Before Other Revenues, Expenses,
Gains, or Losses(601,674)291,631505,533105,037
Capital State Appropriations43,667---43,667
Capital Grants, Contracts, Donations, and Student Fees17,707---17,707
Additions to Permanent Endowments-31,583--31,583
92,957
Total Other Revenues, Expenses, Gains, or Losses61,37431,583--
Increase (Decrease) in Net Position(540,300)323,214505,533105,037
Net Position, Beginning of Year2,368,9611,980,030158,8731,036,234
Adjustment to Beginning Net Position (Note 2)--(357)-
Adjusted Net Position, Beginning of Year, as Restated2,368,9611,980,030158,5161,036,234
Net Position, End of Year$ 1,828,661$ 2,303,244$ 664,049$ 1,141,271
Revenue Sources-Recon BOT Stats
UF Revenue Sources - FY14
Dollar amounts expressed in thousands
UFDSOHSC Affiliates and HospitalsTotal%
Hospitals and Physician Practice Associations$ - 0$ - 0$ 2,328,404$ 2,328,40448%
State Appropriation (Noncapital)$ 605,890$ 6,912$ 7,050$ 619,85213%
Sponsored Programs$ 534,077$ - 0$ - 0$ 534,07711%
Student Tuition and Fees (Gross)$ 508,448$ - 0$ - 0$ 508,44810%
Investment Income (Net)$ 66,400$ 214,735$ 32,748$ 313,8836%
Auxiliary Sales and Other$ 185,935$ - 0$ - 0$ 185,9354%
Component Unit Sales$ - 0$ 141,770$ - 0$ 141,7703%
Federal and State Student Financial Aid$ 116,994$ - 0$ - 0$ 116,9942%
Gifts$ - 0$ 99,305$ - 0$ 99,3052%
Total2,017,744462,7222,368,2024,848,668
Reconciliation with BOT Welcome Stats
(Less) Scholarship Allowance(149,793)--(149,793)adjust Tuition and Fees line
Add Capital State Appropriation43,667--43,667adjust State Appropriations, remove (Noncapital), or add new line
Add Capital Grants, Contracts, Donations, and Student Fees17,707--17,707adjust Sponsored Programs line
Add Addition to Permanent Endowment31,583--31,583adjust Gifts
Remove Interest on Loans and Notes Receivable from Aux(1,178)adjust Auxiliary
Add Interest on Loans and Notes Receivable to Investment1,178adjust Investment
Add Transfers Elimination (Omitted)
Component Unit Sales-53,915-53,915adjust CU sales
Gifts-1,235-1,235adjust Gifts
Hospitals and Physician Practice Associations--155,632155,632adjust Hospital revenue
Total Revenue per BOT Welcome Stats1,960,908517,8722,523,8345,002,614
Auxiliary Sales and Others:
Housing rent, Transportation and Parking revenues, Student Heath fees, lab testing fees, conferences and workshops, Florida University Press, food concession commissions, Medical Self-Insurance premiums (blended component units).
Revenue Sources-Recon BOT Stats
Dollar amounts expressed in thousands
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Revenue Sources
UF Revenue Sources - FY14
Dollar amounts expressed in thousands
UFDSOHSC Affiliates and HospitalsTotal%
Hospitals and Physician Practice Associations$ - 002,328,4042,328,40448%
State Appropriation (Noncapital)$ 605,8906,9127,050619,85213%
Sponsored Programs$ 534,07700534,07711%
Student Tuition and Fees (Gross)$ 508,44800508,44810%
Investment Income (Net)$ 66,400214,73532,748313,8836%
Auxiliary Sales and Other$ 185,93500185,9354%
Component Unit Sales$ - 0141,7700141,7703%
Federal and State Student Financial Aid$ 116,99400116,9942%
Gifts$ - 099,305099,3052%
Total2,017,744462,7222,368,2024,848,668
AFR Reconciliation
Operating Revenue4,389,585
Nonoperating Revenue and Expenses575,172
plus Nonoperating Expenses not included above643,043
plus Scholarship Allowance149,793
(less) Transfers Elimination(908,925)
Total Revenue Summary4,848,668
Auxiliary Sales and Others:
Housing rent, Transportation and Parking revenues, Student Heath fees, lab testing fees, conferences and workshops, Florida University Press, food concession commissions, Medical Self-Insurance premiums (blended component units).
Revenue Sources
Dollar amounts expressed in thousands
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Size and Scale
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Revenue Sources UF only
Size and Scale: FY14 Key Facts
University and Component Units
Total Revenues$4.8billion
Investment Pool$3.9billion
Book Value of Capital Assets$2.9billion
Employment - headcount26,489UF only, as of 3/20/15
Research Expenditures$709million
Lecomte,Patrice:HERD survey
Expenses UF Only
UF Revenue Sources - FY14
Dollar amounts expressed in thousands
UF%
State Appropriation (Noncapital)$ 605,89022.6%
Sponsored Programs$ 1,197,74344.7%
Student Tuition and Fees (Gross)$ 508,44819.0%
Investment Income (Net)$ 66,4002.5%
Auxiliary Sales and Other$ 185,9356.9%
Federal and State Student Financial Aid$ 116,9944.4%
Total2,681,410
Less Income Before Other Revenues, Expenses, Gains, or Losses(58,457)
Net2,622,953Matches "People and Space" Expenses
AFR Reconciliation
Operating Revenue1,659,870
Nonoperating Revenue871,747
plus Scholarship Allowance149,793
Total Revenue Summary2,681,410
Auxiliary Sales and Others:
Housing rent, Transportation and Parking revenues, Student Heath fees, lab testing fees, conferences and workshops, Florida University Press, food concession commissions, Medical Self-Insurance premiums (blended component units).
Expenses UF Only
Dollar amounts expressed in thousands
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Functionnal Expenses
Expenses - FY14
Dollar amounts are in thousands
2014SourceGASB Type
Employee Compensation and Benefits$ 1,724,914AFROperating
General Expenses$ 475,905AFROperating and Nonoperating
Space - Utilities and Communication$ 62,761CWOperating
Space - Debt Service$ 8,048AFRNonoperating
Space - Depreciation$ 123,114AFROperating
Scholarship Allowance and Scholarships, Fellowships and Waivers$ 228,211AFRNonoperating
Total Expenses2,622,953
CW = Crosswalk
General Expenses
Subcontracts (C&G)60,668
Contractual Expenses129,956
Furniture, Equipment and Supplies119,325
Travel45,064
Other Expenses65,734
Total General Expenses420,747
Validation of General Operating Expenses
Total UF Operating Expenses2,455,930
Total UF Nonoperating Expenses17,230
(less) Operating except General identified above(1,997,255)
General Expenses475,905
AFR Reconciliation
Operating Expenses2,455,930
Nonoperating Expenses17,230
Scholarship Allowance149,793
Total Expenses2,622,953
Functionnal Expenses
Dollar amounts expressed in thousands
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Financial Aid
Functional Classifications
Dollar amounts are in thousands
Instruction$ 686,760
Research584,734
Public Service432,100
Academic Support167,247
Institutional Support162,253
Depreciation123,114
Auxiliary Operations112,307
Operation and Maintenance of Plant94,905
Scholarships, Fellowships and Waivers, Net206,452
Student Services35,851
Nonoperating Expenses17,230
Total Expenses$ 2,622,953
Expenses 3 years
Financial Aid
Dollar amounts are in thousands
Federal - Pell Grants47,492
Other Federal Grants2,982
Bright Future59,722
Other State Programs9,301
Departmental Scholarships32,907
Institutional Scholarships34,687
Fee Waivers41,120
Scholarship Allowance and Scholarships, Fellowships and Waivers228,211
Gross Tuition
People and Space - FY14
Dollar amounts are in thousands
201420132012SourceGASB Type
Employee Compensation and Benefits1,724,9141,619,8681,522,935AFROperating
General Expenses420,747415,794459,451AFROperating and Nonoperating
Space - Utilities and Rentals73,03375,46677,117CWOperating
Space - Repair and Maintenance44,88646,10753,913CWOperating
Space - Debt Service8,0486,1345,483AFRNonoperating
Space - Depreciation123,114121,356116,697AFROperating
Scholarships, Fellowships and Waivers, Net Expense228,211230,088222,364AFRNonoperating
Total Expenses2,622,9532,514,8132,457,960
CW = Crosswalk
Above Expenses associated with Sponsor Research495,452511,376534,947
Validation of General Operating Expenses
Total UF Operating Expenses2,455,9302,346,5892,244,498
Total UF Nonoperating Expenses17,23020,16071,908
(less) Operating except General identified above(2,052,413)(1,950,955)(1,856,955)
General Expenses420,747415,794459,451
AFR Reconciliation
Operating Expenses2,455,9302,346,5892,244,498
Nonoperating Expenses17,23020,16071,908
Scholarship Allowance149,793148,064141,554
Total Expenses2,622,9532,514,8132,457,960
State Appropriation
Amounts expressed in thousands
2005200620072008200920102011201220132014
Student Tuition and Fees (Gross)$ 242,921$ 255,373$ 278,381$ 310,893$ 344,001$ 383,204$ 424,462$ 462,050$ 500,508$ 508,448
Noncapital State Appropriation$ 557,086$ 596,314$ 702,289$ 662,574$ 620,968$ 552,200$ 579,123$ 527,880$ 485,479$ 605,890
State Appropriation
Student Tuition and Fees (Gross)
Noncapital State Appropriation
Student Tuition and Fees (Gross) and State Appropriations
Debt 20 Year
Amounts expressed in thousands
2005200620072008200920102011201220132014
Noncapital State Appropriation$ 557,086$ 596,314$ 702,289$ 662,574$ 620,968$ 552,200$ 579,123$ 527,880$ 485,479$ 605,890
Capital Appropriation$ 42,745$ 68,716$ 115,309$ 152,474$ 83,702$ 37,969$ 60,259$ 6,060$ 9,464$ 43,667
Total State Appropriation$ 599,831$ 665,030$ 817,598$ 815,048$ 704,670$ 590,169$ 639,382$ 533,940$ 494,943$ 649,557
Debt 20 Year
Noncapital State Appropriation
Capital Appropriation
Total State Appropriation
Research Awards 10 year
EntityType of Debt20142013201220112010200920082007200620052004200320022001200019991998199719961995
Univerity of FloridaCIDP181,579119,401126,284104,50779,164129,375126,555112,636119,260112,812123,180129,128134,967135,764140,424114,36675,50178,47671,10373,862
Univerity of FloridaLoans & Notes11,4735,000000000000000000000
Univerity of FloridaInstallment Debt3,3601,6181,9452,0702,5544,4414,0125,0462,398266771490358142377302377114261,576
Univerity of FloridaCapital Leases2,9473,0763,1903,3113,4173,5173,6113,7013,7833,8613,9354,0044,0691,7771,9692,1502,3202,4782,6312,772
Univerity of Florida Total199,359129,095131,419109,88885,135137,333134,178121,383125,441116,939127,886133,622139,394137,683142,770116,81878,19880,96574,16078,210
Direct Support OrganizationsBonds Payable91,210117,895122,890111,845115,715122,405126,815118,350119,915111,410112,93579,30027,70028,40029,10029,70029,94630,53031,11426,899
Direct Support OrganizationsLoans & Notes15,9020000000000000000000
Direct Support OrganizationsCapital Leases00000000000004906,7241,1185479
Direct Support OrganizationsInstallment Debt00000000000000000001,774
Direct Support Organizations Total107,112117,895122,890111,845115,715122,405126,815118,350119,915111,410112,93579,30027,70028,44929,10036,42431,06430,58431,12128,682
HSC Affiliates and HospitalsBonds Payable730,939783,405625,682646,471621,388645,703702,720593,038430,394445,562466,002441,997286,296284,929291,390288,035307,121322,476160,758168,094
HSC Affiliates and HospitalsInstallment Debt000000000001,7864,0922,9423,9602,2920000
HSC Affiliates and HospitalsCapital Leases8,14110,34710,8583,1484,7388,4867,0306,9197,0717,59911,60813,2537,3867,5886,4136,7246,5286,34803,457
HSC Affiliates and HospitalsLoans & Notes8,0008,000000000000000000000
HSC Affiliates and Hospitals Total747,080801,752636,540649,619626,126654,189709,750599,957437,465453,161477,610457,036297,774295,459301,763297,051313,649328,824160,758171,551
Grand Total1,053,5511,048,742890,849871,352826,976913,927970,743839,690682,821681,510718,431669,958464,868461,591473,633450,293422,911440,373266,039278,443
Amounts expressed in thousands
19951996199719981999200020012002200320042005200620072008200920102011201220132014
University of Florida$ 78,210$ 74,160$ 80,965$ 78,198$ 116,818$ 142,770$ 137,683$ 139,394$ 133,622$ 127,886$ 116,939$ 125,441$ 121,383$ 134,178$ 137,333$ 85,135$ 109,888$ 131,419$ 129,095$ 199,359
Direct Support Organizations$ 28,682$ 31,121$ 30,584$ 31,064$ 36,424$ 29,100$ 28,449$ 27,700$ 79,300$ 112,935$ 111,410$ 119,915$ 118,350$ 126,815$ 122,405$ 115,715$ 111,845$ 122,890$ 117,895$ 107,112
HSC Affiliates and Hospitals$ 171,551$ 160,758$ 328,824$ 313,649$ 297,051$ 301,763$ 295,459$ 297,774$ 457,036$ 477,610$ 453,161$ 437,465$ 599,957$ 709,750$ 654,189$ 626,126$ 649,619$ 636,540$ 801,752$ 747,080
Amounts expressed in thousands
Research Awards 10 year
University of Florida
Direct Support Organizations
HSC Affiliates and Hospitals
Capital Asset-Related Debt
Financial Aid Administered
(In Thousands)
2005200620072008200920102011201220132014
Federal Agencies316,608324,437360,964322,642336,523487,454416,916423,116416,588465,297
State and Local Agencies61,95960,355102,93294,12186,03961,16561,19348,51244,58752,075
Others115,358133,984119,150144,889151,470129,608141,014173,057179,477184,325
Totals493,925518,776583,046561,652574,032678,227619,123644,685640,652701,697
2005316,60861,959115,358493,925
2006324,43760,355133,984518,776
2007360,964102,932119,150583,046
2008322,64294,121144,889561,652
2009336,52386,039151,470574,032
2010487,45461,165129,608678,227
2011416,91661,193141,014619,123
2012423,11648,512173,057644,685
2013416,58844,587179,477640,652
2014465,29752,075184,325701,697
Financial Aid Administered
Federal Agencies
State and Local Agencies
Others
Research Awards
SNP 2014
Financial Aid Administered
(In Thousands)
2005200620072008200920102011201220132014
Federal Agencies180,498182,250193,869215,489241,317272,958296,012299,220306,767304,193
Florida State Agencies71,21179,30785,52089,60994,26088,87886,03069,4056781369,107
Others75,06090,42396,987104,37693,899107,737116,673125,335133,389128,817
Totals326,769351,980376,376409,474429,476469,573498,715493,960507,969502,117
2005180,49871,21175,060
2006182,25079,30790,423
2007193,86985,52096,987
2008215,48989,609104,376
2009241,31794,26093,899
2010272,95888,878107,737
2011296,01286,030116,673
2012299,22069,405125,335
2013306,76767813133,389
2014304,19369,107128,817
2005200620072008200920102011201220132014
180,498182,250193,869215,489241,317272,958296,012299,220306,767304,193
71,21179,30785,52089,60994,26088,87886,03069,4056781369,107
75,06090,42396,987104,37693,899107,737116,673125,335133,389128,817
SNP 2014
Federal Agencies
Florida State Agencies
Others
Financial Aid Administered
UNIVERSITY OF FLORIDA
A COMPONENT UNIT OF THE STATE OF FLORIDA
STATEMENT OF NET POSITION
as of June 30, 2014
(amounts expressed in thousands)
University of FloridaComponent Units
Direct-SupportHealth ScienceShands Hospital
20142013OrganizationsCenter Affiliatesand Others
ASSETS
Current Assets:
Cash and Cash Equivalents (Note 1)$ 152$ 285$ 26,604$ 55,716$ 60,944
Unexpended General Revenue Releases
Investments (Note 3)1,161,0211,071,694192,2896,218176,322
Accounts Receivable, Net (Note 4)96,63090,802112,85883,406263,318
Loans and Notes Receivable, Net (Note 4)2,7872,821---
Due From State (Note 5)45,97714,795--15,781
Due From Component Units/University (Note 6)25,13826,50346,53816,17060,318
Inventories (Note 7)4,6904,57042-24,446
Deposits - Other
Other Current Assets2,1301,9646,1972,49540,558
Total Current Assets1,338,5251,213,434384,528164,005641,687
Noncurrent Assets:
Restricted Cash and Cash Equivalents (Note 1)14219,681-19,500
Endowment Investments
Unexpended General Revenue Releases - Restricted-
Restricted Investments (Note 3)152,510104,0531,829,86319,513343,685
Loans and Notes Receivable, Net (Note 4)36,97536,375---
Depreciable Capital Assets, Net (Note 8)1,568,9051,633,266178,72559,745768,822
Nondepreciable Capital Assets (Note 8)145,86053,07277,6248,744130,554
Other Noncurrent Assets631,0401084,745218,550
Total Noncurrent Assets1,904,3271,827,8272,096,00192,7471,481,111
TOTAL ASSETS3,242,8523,041,2612,480,529256,7522,122,798
DEFERRED OUTFLOWS OF RESOURCES
Accumulated Decrease in Fair Value of Interest Rate Swap Agreements----42,052
Losses on Debt Refunding----631
TOTAL DEFERRED OUTFLOWS OF RESOURCES----42,683
TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES$ 3,242,852$ 3,041,261$ 2,480,529$ 256,752$ 2,165,481
LIABILITIES
Current Liabilities:
Accounts Payable$ 64,133$ 66,992$ 14,429$ 20,386$ 152,584
Salaries and Wages Payable24,30419,2523,8507,09071,141
Due to State-
Due To Component Units/University (Note 6)46,54780,17466,59812,82747,471
Unearned Revenue (Note 10)29,53625,43062,0141,704-
Estimated Claims Payable
Deposits Held in Custody19,05516,086-81-
Obligations Under Securities Lending and Repurchase Agreements-
Other Current Liabilities (Note 11)2017,1332,885--
Long-Term Liabilities - Current Portion: (Note 12)
Capital Improvement Debt Payable8,6057,307---
Bonds Payable--10,5802,01123,687
Loans and Notes Payable281-14,430--
Installment Purchase Agreements Payable1,263846---
Capital Leases Payable137129-1932,339
Compensated Absences Payable11,6589,143244--
Liability for Self-Insured Claims9,19611,59626,240--
Total Current Liabilities214,916244,088201,27044,292297,222
Noncurrent Liabilities: (Note 12)
Capital Improvement Debt Payable172,974112,094---
Bonds Payable--80,63033,036672,205
Loans and Notes Payable11,1925,0001,4728,000-
Installment Purchase Agreements Payable2,097772---
Capital Leases Payable2,8102,947-3495,260
Compensated Absences Payable114,293104,3053,119--
Other Postemployment Benefits Payable180,690139,775--2,386
Liability for Self-Insured Claims36,60644,551---
Other Noncurrent Liabilities18,48218,76822,392-71,028
Total Noncurrent Liabilities539,144428,212107,61341,385750,879
TOTAL LIABILITIES754,060672,300308,88385,6771,048,101
DEFERRED INFLOWS OF RESOURCES
Accumulated Increase in Fair Value of Interest Rate Swap Agreements
Gains on Debt Refunding----11,668
TOTAL LIABILITIES AND DEFERRED INFLOWS OF RESOURCES754,060672,300308,88385,6771,059,769
NET POSITION
Net Investment in Capital Assets1,565,3131,554,445117,56024,901195,225
Restricted:
Nonexpendable:
Endowment--1,196,686-97
Expendable:
Endowment--380,075-11,931
Loans36,31735,853---
Capital Projects79,29464,217---
Debt Service4,4335,453---
Other654,866589,690326,610--
Unrestricted148,569119,303150,715146,174898,459
TOTAL NET POSITION2,488,7922,368,9612,171,646171,0751,105,712
TOTAL LIABILITIES AND NET POSITION$ 3,242,852$ 3,041,261$ 2,480,529$ 256,752$ 2,165,481
The accompanying notes are an integral part of these financial statements.
Do Total Assets = Total Liabilities and Net Assets?00000
Griswold,Edwin C:plus 1
Griswold,Edwin C:Less 1
Griswold,Edwin C:plus 1
Griswold,Edwin C:plus 1
Lecomte,Patrice:minus 1
Griswold,Edwin C:less 3 to balance w adj to liab on tables
Griswold,Edwin C:PLUS 1
Griswold,Edwin C:LESS 1
Griswold,Edwin C:LESS 1
-
THEUN
IVERSITYO
FFLORIDA
UF Enterprise Expenses FY15
Employee Compensation and Benefits, $2,706,048 , 54%
Service and Supplies, $1,634,818 , 32.4%
Space - Utilities and Communication, $67,727 , 1%
Space - Debt Service, $35,648 , 1%
Space - Depreciation, $237,594 , 5%
Scholarship Allowance and Scholarships, Fellowships and
Waivers, $230,067 , 5%Unexpended Future
Obligations, $128,000 , 2%
Chart1
Dollar amounts expressed in thousands
Total $5.04 Billion
SRECNP 2014
UNIVERSITY OF FLORIDA
A COMPONENT UNIT OF THE STATE OF FLORIDA
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION1235
for the Fiscal Year Ended June 30, 2014
(amounts expressed in thousands)
University of FloridaComponent Units
Direct-SupportHealth ScienceShands Hospital
2013-14OrganizationsCenter Affiliatesand OthersTOTAL 2014Classification
OPERATING REVENUES
Student Tuition and Fees$ 508,448$ -$ -$ -508,448Tuition
Scholarship Allowances(149,793)---(149,793)
Student Tuition and Fees, Net of Scholarship Allowances358,655---358,655
Federal Grants and Contracts366,315---366,315Sponsored Programs
State and Local Grants and Contracts44,638---44,638Sponsored Programs
Nongovernmental Grants and Contracts118,723---118,723Sponsored Programs
Sales and Services of Auxiliary Enterprises (Note 13)129,942---129,942Auxiliary Sales and Others
Sales and Services of Educational Departments52,012---52,012Auxiliary Sales and Others
Sales and Services of Component Units-65,191--65,191Component Unit Sales (mainly UAA and Gator Boosters)
Hospital Revenues--663,0831,587,6992,250,782Hospitals and Physician Practice Associations
Gifts and Donations - Component Units-99,305--99,305Gifts
Royalties and Licensing Fees - Component Units-29,958--29,958Component Unit Sales
Interest on Loans and Notes Receivable1,178---1,178Auxiliary Sales and Others
Other Operating Revenues2,38141127,89644,86875,556Auxiliary Sales and Others, Component Unit Sales, Hospitals and Physician Practice Associations
Total Operating Revenues1,073,844194,865690,9791,632,5673,742,048Total Operating Revenue - based on tution gross and after transfer elimination
OPERATING EXPENSES
Employee Compensation and Benefits1,724,9141,43779,505793,7492,599,605
Services and Supplies472,507159,06555,444722,3121,409,328
Utilities and Communications62,761---62,761
Scholarships, Fellowships and Waivers, Net78,418---78,418
Depreciation123,1149,9447,80377,220218,081
Self-Insured Claims and Expenses (Note 16)(5,784)---(5,784)
Other Component Unit Operating Expenses-----
Total Operating Expenses (Note 18)2,455,930170,446142,7521,593,2814,362,409
Operating Income (Loss)(1,382,086)24,419548,22739,286
NONOPERATING REVENUES (EXPENSES)
Noncapital State Appropriations605,8906,912-7,050619,852State Appropriations
Federal and State Student Financial Aid116,994---116,994Student Financial Aid
Noncapital Grants, Contracts, and Gifts4,401---4,401Sponsored Programs
Investment Income37,474202,79258337,587278,436Investment Income
Net Increase (Decrease) in the Fair Value of Investments32,52412,736(412)3,45248,300Investment Income
Investment Expenses(3,598)(793)(876)(7,586)(12,853)Investment Income
Other Nonoperating Revenues42246,210-4,85851,490Auxiliary Sales and Others, Component Unit Sales, Hospitals and Physician Practice Associations
Gain (Loss) on Disposal of Capital Assets(2,699)1,219(655)(2,047)(4,182)
Interest on Capital Asset-Related Debt(8,048)(2,349)-(20,372)(30,769)
Other Nonoperating Expenses(2,948)485(41,334)42,809(988)
Net Nonoperating Revenues (Expenses)780,412267,212(42,694)65,7511,106,620Total Nonoperating Revenue - after transfer elimination
4,848,668Total Revenue
Income (Loss) Before Other Revenues, Expenses,
Gains, or Losses(601,674)291,631505,533105,037
Capital State Appropriations43,667---43,667
Capital Grants, Contracts, Donations, and Student Fees17,707---17,707
Additions to Permanent Endowments-31,583--31,583
92,957
Total Other Revenues, Expenses, Gains, or Losses61,37431,583--
Increase (Decrease) in Net Position(540,300)323,214505,533105,037
Net Position, Beginning of Year2,368,9611,980,030158,8731,036,234
Adjustment to Beginning Net Position (Note 2)--(357)-
Adjusted Net Position, Beginning of Year, as Restated2,368,9611,980,030158,5161,036,234
Net Position, End of Year$ 1,828,661$ 2,303,244$ 664,049$ 1,141,271
Revenue Sources-Recon BOT Stats
UF Revenue Sources - FY14
Dollar amounts expressed in thousands
UFDSOHSC Affiliates and HospitalsTotal%
Hospitals and Physician Practice Associations$ - 0$ - 0$ 2,328,404$ 2,328,40448%
State Appropriation (Noncapital)$ 605,890$ 6,912$ 7,050$ 619,85213%
Sponsored Programs$ 534,077$ - 0$ - 0$ 534,07711%
Student Tuition and Fees (Gross)$ 508,448$ - 0$ - 0$ 508,44810%
Investment Income (Net)$ 66,400$ 214,735$ 32,748$ 313,8836%
Auxiliary Sales and Other$ 185,935$ - 0$ - 0$ 185,9354%
Component Unit Sales$ - 0$ 141,770$ - 0$ 141,7703%
Federal and State Student Financial Aid$ 116,994$ - 0$ - 0$ 116,9942%
Gifts$ - 0$ 99,305$ - 0$ 99,3052%
Total2,017,744462,7222,368,2024,848,668
Reconciliation with BOT Welcome Stats
(Less) Scholarship Allowance(149,793)--(149,793)adjust Tuition and Fees line
Add Capital State Appropriation43,667--43,667adjust State Appropriations, remove (Noncapital), or add new line
Add Capital Grants, Contracts, Donations, and Student Fees17,707--17,707adjust Sponsored Programs line
Add Addition to Permanent Endowment31,583--31,583adjust Gifts
Remove Interest on Loans and Notes Receivable from Aux(1,178)adjust Auxiliary
Add Interest on Loans and Notes Receivable to Investment1,178adjust Investment
Add Transfers Elimination (Omitted)
Component Unit Sales-53,915-53,915adjust CU sales
Gifts-1,235-1,235adjust Gifts
Hospitals and Physician Practice Associations--155,632155,632adjust Hospital revenue
Total Revenue per BOT Welcome Stats1,960,908517,8722,523,8345,002,614
Auxiliary Sales and Others:
Housing rent, Transportation and Parking revenues, Student Heath fees, lab testing fees, conferences and workshops, Florida University Press, food concession commissions, Medical Self-Insurance premiums (blended component units).
Revenue Sources-Recon BOT Stats
Dollar amounts expressed in thousands
[], [], []
Revenue Sources
UF Revenue Sources - FY14
Dollar amounts expressed in thousands
UFDSOHSC Affiliates and HospitalsTotal%
Hospitals and Physician Practice Associations$ - 002,328,4042,328,40448%
State Appropriation (Noncapital)$ 605,8906,9127,050619,85213%
Sponsored Programs$ 534,07700534,07711%
Student Tuition and Fees (Gross)$ 508,44800508,44810%
Investment Income (Net)$ 66,400214,73532,748313,8836%
Auxiliary Sales and Other$ 185,93500185,9354%
Component Unit Sales$ - 0141,7700141,7703%
Federal and State Student Financial Aid$ 116,99400116,9942%
Gifts$ - 099,305099,3052%
Total2,017,744462,7222,368,2024,848,668
AFR Reconciliation
Operating Revenue4,389,585
Nonoperating Revenue and Expenses575,172
plus Nonoperating Expenses not included above643,043
plus Scholarship Allowance149,793
(less) Transfers Elimination(908,925)
Total Revenue Summary4,848,668
Auxiliary Sales and Others:
Housing rent, Transportation and Parking revenues, Student Heath fees, lab testing fees, conferences and workshops, Florida University Press, food concession commissions, Medical Self-Insurance premiums (blended component units).
Revenue Sources
Dollar amounts expressed in thousands
[], [], []
Size and Scale
[], [], []
Revenue Sources UF only
Size and Scale: FY14 Key Facts
University and Component Units
Total Revenues$4.8billion
Investment Pool$3.9billion
Book Value of Capital Assets$2.9billion
Employment - headcount26,489UF only, as of 3/20/15
Research Expenditures$709million
Lecomte,Patrice:HERD survey
Expenses UF Only
UF Revenue Sources - FY14
Dollar amounts expressed in thousands
UF%
State Appropriation (Noncapital)$ 605,89022.6%
Sponsored Programs$ 1,197,74344.7%
Student Tuition and Fees (Gross)$ 508,44819.0%
Investment Income (Net)$ 66,4002.5%
Auxiliary Sales and Other$ 185,9356.9%
Federal and State Student Financial Aid$ 116,9944.4%
Total2,681,410
Less Income Before Other Revenues, Expenses, Gains, or Losses(58,457)
Net2,622,953Matches "People and Space" Expenses
AFR Reconciliation
Operating Revenue1,659,870
Nonoperating Revenue871,747
plus Scholarship Allowance149,793
Total Revenue Summary2,681,410
Auxiliary Sales and Others:
Housing rent, Transportation and Parking revenues, Student Heath fees, lab testing fees, conferences and workshops, Florida University Press, food concession commissions, Medical Self-Insurance premiums (blended component units).
Expenses UF Only
Dollar amounts expressed in thousands
[], [], []
Functionnal Expenses
Expenses - FY14
Dollar amounts are in thousands
2014SourceGASB Type
Employee Compensation and Benefits$ 1,724,914AFROperating
General Expenses$ 475,905AFROperating and Nonoperating
Space - Utilities and Communication$ 62,761CWOperating
Space - Debt Service$ 8,048AFRNonoperating
Space - Depreciation$ 123,114AFROperating
Scholarship Allowance and Scholarships, Fellowships and Waivers$ 228,211AFRNonoperating
Total Expenses2,622,953
CW = Crosswalk
General Expenses
Subcontracts (C&G)60,668
Contractual Expenses129,956
Furniture, Equipment and Supplies119,325
Travel45,064
Other Expenses65,734
Total General Expenses420,747
Validation of General Operating Expenses
Total UF Operating Expenses2,455,930
Total UF Nonoperating Expenses17,230
(less) Operating except General identified above(1,997,255)
General Expenses475,905
AFR Reconciliation
Operating Expenses2,455,930
Nonoperating Expenses17,230
Scholarship Allowance149,793
Total Expenses2,622,953
Functionnal Expenses
Dollar amounts expressed in thousands
[], [], []
Financial Aid
Functional Classifications
Dollar amounts are in thousands
Instruction$ 686,760
Research584,734
Public Service432,100
Academic Support167,247
Institutional Support162,253
Depreciation123,114
Auxiliary Operations112,307
Operation and Maintenance of Plant94,905
Scholarships, Fellowships and Waivers, Net206,452
Student Services35,851
Nonoperating Expenses17,230
Total Expenses$ 2,622,953
Expenses 3 years
Financial Aid
Dollar amounts are in thousands
Federal - Pell Grants47,492
Other Federal Grants2,982
Bright Future59,722
Other State Programs9,301
Departmental Scholarships32,907
Institutional Scholarships34,687
Fee Waivers41,120
Scholarship Allowance and Scholarships, Fellowships and Waivers228,211
Gross Tuition
People and Space - FY14
Dollar amounts are in thousands
201420132012SourceGASB Type
Employee Compensation and Benefits1,724,9141,619,8681,522,935AFROperating
General Expenses420,747415,794459,451AFROperating and Nonoperating
Space - Utilities and Rentals73,03375,46677,117CWOperating
Space - Repair and Maintenance44,88646,10753,913CWOperating
Space - Debt Service8,0486,1345,483AFRNonoperating
Space - Depreciation123,114121,356116,697AFROperating
Scholarships, Fellowships and Waivers, Net Expense228,211230,088222,364AFRNonoperating
Total Expenses2,622,9532,514,8132,457,960
CW = Crosswalk
Above Expenses associated with Sponsor Research495,452511,376534,947
Validation of General Operating Expenses
Total UF Operating Expenses2,455,9302,346,5892,244,498
Total UF Nonoperating Expenses17,23020,16071,908
(less) Operating except General identified above(2,052,413)(1,950,955)(1,856,955)
General Expenses420,747415,794459,451
AFR Reconciliation
Operating Expenses2,455,9302,346,5892,244,498
Nonoperating Expenses17,23020,16071,908
Scholarship Allowance149,793148,064141,554
Total Expenses2,622,9532,514,8132,457,960
State Appropriation
Amounts expressed in thousands
2005200620072008200920102011201220132014
Student Tuition and Fees (Gross)$ 242,921$ 255,373$ 278,381$ 310,893$ 344,001$ 383,204$ 424,462$ 462,050$ 500,508$ 508,448
Noncapital State Appropriation$ 557,086$ 596,314$ 702,289$ 662,574$ 620,968$ 552,200$ 579,123$ 527,880$ 485,479$ 605,890
State Appropriation
Student Tuition and Fees (Gross)
Noncapital State Appropriation
Student Tuition and Fees (Gross) and State Appropriations
Debt 20 Year
Amounts expressed in thousands
2005200620072008200920102011201220132014
Noncapital State Appropriation$ 557,086$ 596,314$ 702,289$ 662,574$ 620,968$ 552,200$ 579,123$ 527,880$ 485,479$ 605,890
Capital Appropriation$ 42,745$ 68,716$ 115,309$ 152,474$ 83,702$ 37,969$ 60,259$ 6,060$ 9,464$ 43,667
Total State Appropriation$ 599,831$ 665,030$ 817,598$ 815,048$ 704,670$ 590,169$ 639,382$ 533,940$ 494,943$ 649,557
Debt 20 Year
Noncapital State Appropriation
Capital Appropriation
Total State Appropriation
Research Awards 10 year
EntityType of Debt20142013201220112010200920082007200620052004200320022001200019991998199719961995
Univerity of FloridaCIDP181,579119,401126,284104,50779,164129,375126,555112,636119,260112,812123,180129,128134,967135,764140,424114,36675,50178,47671,10373,862
Univerity of FloridaLoans & Notes11,4735,000000000000000000000
Univerity of FloridaInstallment Debt3,3601,6181,9452,0702,5544,4414,0125,0462,398266771490358142377302377114261,576
Univerity of FloridaCapital Leases2,9473,0763,1903,3113,4173,5173,6113,7013,7833,8613,9354,0044,0691,7771,9692,1502,3202,4782,6312,772
Univerity of Florida Total199,359129,095131,419109,88885,135137,333134,178121,383125,441116,939127,886133,622139,394137,683142,770116,81878,19880,96574,16078,210
Direct Support OrganizationsBonds Payable91,210117,895122,890111,845115,715122,405126,815118,350119,915111,410112,93579,30027,70028,40029,10029,70029,94630,53031,11426,899
Direct Support OrganizationsLoans & Notes15,9020000000000000000000
Direct Support OrganizationsCapital Leases00000000000004906,7241,1185479
Direct Support OrganizationsInstallment Debt00000000000000000001,774
Direct Support Organizations Total107,112117,895122,890111,845115,715122,405126,815118,350119,915111,410112,93579,30027,70028,44929,10036,42431,06430,58431,12128,682
HSC Affiliates and HospitalsBonds Payable730,939783,405625,682646,471621,388645,703702,720593,038430,394445,562466,002441,997286,296284,929291,390288,035307,121322,476160,758168,094
HSC Affiliates and HospitalsInstallment Debt000000000001,7864,0922,9423,9602,2920000
HSC Affiliates and HospitalsCapital Leases8,14110,34710,8583,1484,7388,4867,0306,9197,0717,59911,60813,2537,3867,5886,4136,7246,5286,34803,457
HSC Affiliates and HospitalsLoans & Notes8,0008,000000000000000000000
HSC Affiliates and Hospitals Total747,080801,752636,540649,619626,126654,189709,750599,957437,465453,161477,610457,036297,774295,459301,763297,051313,649328,824160,758171,551
Grand Total1,053,5511,048,742890,849871,352826,976913,927970,743839,690682,821681,510718,431669,958464,868461,591473,633450,293422,911440,373266,039278,443
Amounts expressed in thousands
19951996199719981999200020012002200320042005200620072008200920102011201220132014
University of Florida$ 78,210$ 74,160$ 80,965$ 78,198$ 116,818$ 142,770$ 137,683$ 139,394$ 133,622$ 127,886$ 116,939$ 125,441$ 121,383$ 134,178$ 137,333$ 85,135$ 109,888$ 131,419$ 129,095$ 199,359
Direct Support Organizations$ 28,682$ 31,121$ 30,584$ 31,064$ 36,424$ 29,100$ 28,449$ 27,700$ 79,300$ 112,935$ 111,410$ 119,915$ 118,350$ 126,815$ 122,405$ 115,715$ 111,845$ 122,890$ 117,895$ 107,112
HSC Affiliates and Hospitals$ 171,551$ 160,758$ 328,824$ 313,649$ 297,051$ 301,763$ 295,459$ 297,774$ 457,036$ 477,610$ 453,161$ 437,465$ 599,957$ 709,750$ 654,189$ 626,126$ 649,619$ 636,540$ 801,752$ 747,080
Amounts expressed in thousands
Research Awards 10 year
University of Florida
Direct Support Organizations
HSC Affiliates and Hospitals
Capital Asset-Related Debt
Financial Aid Administered
(In Thousands)
2005200620072008200920102011201220132014
Federal Agencies316,608324,437360,964322,642336,523487,454416,916423,116416,588465,297
State and Local Agencies61,95960,355102,93294,12186,03961,16561,19348,51244,58752,075
Others115,358133,984119,150144,889151,470129,608141,014173,057179,477184,325
Totals493,925518,776583,046561,652574,032678,227619,123644,685640,652701,697
2005316,60861,959115,358493,925
2006324,43760,355133,984518,776
2007360,964102,932119,150583,046
2008322,64294,121144,889561,652
2009336,52386,039151,470574,032
2010487,45461,165129,608678,227
2011416,91661,193141,014619,123
2012423,11648,512173,057644,685
2013416,58844,587179,477640,652
2014465,29752,075184,325701,697
Financial Aid Administered
Federal Agencies
State and Local Agencies
Others
Research Awards
SNP 2014
Financial Aid Administered
(In Thousands)
2005200620072008200920102011201220132014
Federal Agencies180,498182,250193,869215,489241,317272,958296,012299,220306,767304,193
Florida State Agencies71,21179,30785,52089,60994,26088,87886,03069,4056781369,107
Others75,06090,42396,987104,37693,899107,737116,673125,335133,389128,817
Totals326,769351,980376,376409,474429,476469,573498,715493,960507,969502,117
2005180,49871,21175,060
2006182,25079,30790,423
2007193,86985,52096,987
2008215,48989,609104,376
2009241,31794,26093,899
2010272,95888,878107,737
2011296,01286,030116,673
2012299,22069,405125,335
2013306,76767813133,389
2014304,19369,107128,817
2005200620072008200920102011201220132014
180,498182,250193,869215,489241,317272,958296,012299,220306,767304,193
71,21179,30785,52089,60994,26088,87886,03069,4056781369,107
75,06090,42396,987104,37693,899107,737116,673125,335133,389128,817
SNP 2014
Federal Agencies
Florida State Agencies
Others
Financial Aid Administered
UNIVERSITY OF FLORIDA
A COMPONENT UNIT OF THE STATE OF FLORIDA
STATEMENT OF NET POSITION
as of June 30, 2014
(amounts expressed in thousands)
University of FloridaComponent Units
Direct-SupportHealth ScienceShands Hospital
20142013OrganizationsCenter Affiliatesand Others
ASSETS
Current Assets:
Cash and Cash Equivalents (Note 1)$ 152$ 285$ 26,604$ 55,716$ 60,944
Unexpended General Revenue Releases
Investments (Note 3)1,161,0211,071,694192,2896,218176,322
Accounts Receivable, Net (Note 4)96,63090,802112,85883,406263,318
Loans and Notes Receivable, Net (Note 4)2,7872,821---
Due From State (Note 5)45,97714,795--15,781
Due From Component Units/University (Note 6)25,13826,50346,53816,17060,318
Inventories (Note 7)4,6904,57042-24,446
Deposits - Other
Other Current Assets2,1301,9646,1972,49540,558
Total Current Assets1,338,5251,213,434384,528164,005641,687
Noncurrent Assets:
Restricted Cash and Cash Equivalents (Note 1)14219,681-19,500
Endowment Investments
Unexpended General Revenue Releases - Restricted-
Restricted Investments (Note 3)152,510104,0531,829,86319,513343,685
Loans and Notes Receivable, Net (Note 4)36,97536,375---
Depreciable Capital Assets, Net (Note 8)1,568,9051,633,266178,72559,745768,822
Nondepreciable Capital Assets (Note 8)145,86053,07277,6248,744130,554
Other Noncurrent Assets631,0401084,745218,550
Total Noncurrent Assets1,904,3271,827,8272,096,00192,7471,481,111
TOTAL ASSETS3,242,8523,041,2612,480,529256,7522,122,798
DEFERRED OUTFLOWS OF RESOURCES
Accumulated Decrease in Fair Value of Interest Rate Swap Agreements----42,052
Losses on Debt Refunding----631
TOTAL DEFERRED OUTFLOWS OF RESOURCES----42,683
TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES$ 3,242,852$ 3,041,261$ 2,480,529$ 256,752$ 2,165,481
LIABILITIES
Current Liabilities:
Accounts Payable$ 64,133$ 66,992$ 14,429$ 20,386$ 152,584
Salaries and Wages Payable24,30419,2523,8507,09071,141
Due to State-
Due To Component Units/University (Note 6)46,54780,17466,59812,82747,471
Unearned Revenue (Note 10)29,53625,43062,0141,704-
Estimated Claims Payable
Deposits Held in Custody19,05516,086-81-
Obligations Under Securities Lending and Repurchase Agreements-
Other Current Liabilities (Note 11)2017,1332,885--
Long-Term Liabilities - Current Portion: (Note 12)
Capital Improvement Debt Payable8,6057,307---
Bonds Payable--10,5802,01123,687
Loans and Notes Payable281-14,430--
Installment Purchase Agreements Payable1,263846---
Capital Leases Payable137129-1932,339
Compensated Absences Payable11,6589,143244--
Liability for Self-Insured Claims9,19611,59626,240--
Total Current Liabilities214,916244,088201,27044,292297,222
Noncurrent Liabilities: (Note 12)
Capital Improvement Debt Payable172,974112,094---
Bonds Payable--80,63033,036672,205
Loans and Notes Payable11,1925,0001,4728,000-
Installment Purchase Agreements Payable2,097772---
Capital Leases Payable2,8102,947-3495,260
Compensated Absences Payable114,293104,3053,119--
Other Postemployment Benefits Payable180,690139,775--2,386
Liability for Self-Insured Claims36,60644,551---
Other Noncurrent Liabilities18,48218,76822,392-71,028
Total Noncurrent Liabilities539,144428,212107,61341,385750,879
TOTAL LIABILITIES754,060672,300308,88385,6771,048,101
DEFERRED INFLOWS OF RESOURCES
Accumulated Increase in Fair Value of Interest Rate Swap Agreements
Gains on Debt Refunding----11,668
TOTAL LIABILITIES AND DEFERRED INFLOWS OF RESOURCES754,060672,300308,88385,6771,059,769
NET POSITION
Net Investment in Capital Assets1,565,3131,554,445117,56024,901195,225
Restricted:
Nonexpendable:
Endowment--1,196,686-97
Expendable:
Endowment--380,075-11,931
Loans36,31735,853---
Capital Projects79,29464,217---
Debt Service4,4335,453---
Other654,866589,690326,610--
Unrestricted148,569119,303150,715146,174898,459
TOTAL NET POSITION2,488,7922,368,9612,171,646171,0751,105,712
TOTAL LIABILITIES AND NET POSITION$ 3,242,852$ 3,041,261$ 2,480,529$ 256,752$ 2,165,481
The accompanying notes are an integral part of these financial statements.
Do Total Assets = Total Liabilities and Net Assets?00000
Griswold,Edwin C:plus 1
Griswold,Edwin C:Less 1
Griswold,Edwin C:plus 1
Griswold,Edwin C:plus 1
Lecomte,Patrice:minus 1
Griswold,Edwin C:less 3 to balance w adj to liab on tables
Griswold,Edwin C:PLUS 1
Griswold,Edwin C:LESS 1
Griswold,Edwin C:LESS 1
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THEUN
IVERSITYO
FFLORIDA
RCM is a financial management philosophy Focuses on operational decentralization Designed to support achievement of primary
academic priorities Budget follows priorities Aligns authority with responsibility Creates full cost view of academic operations
UF Chooses RCM
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THEUN
IVERSITYO
FFLORIDA
Five Years In Provost Questions New CFO Dean’s Listening Tour
Forces for Change
-
Our Starting Point
CU
RRENTM
ODEL
-
CU
RRENTM
ODEL
Weights by college and level instead of subvention methodology. 1% Rule 70%/30% allocation of appropriation and tuition revenue. Facilities and HSC Administration cost added to colleges pre-
RCM base appropriation; weights adjusted. Student Services and Library processed as pass-through services. Grant expenditures would not be assessed overhead charges for
IT, General Administration, HSC Administration, and Facilities. Spendable endowment funds transferred into Fund 171 exempt
from overhead assessment.
Significant Decisions Made
-
CU
RRENTM
ODEL
IFAS Research/Extension and HSC Clinical Practice expenditures would have a reduced overhead assessment rate.
Overhead charged on expenditures instead of Employee/Student Headcount (except library and student services).
18 month (annualized) look back of both student credit hours and expenditures.
Internal sales revenue would off-set direct expenditures, eliminate double taxation.
Single payments $100,000 and subcontracts $25,000 or greater would be exempt from overhead assessment.
State Funded Centers funded “Off the Top” of State Appropriations.
Significant Decisions Made
-
CU
RRENTM
ODEL
Revenue Allocation
Appropriation Projected TuitionLess:• State Funded Centers/Student Services/Library Services• IFAS Extension and Research • Legislative Earmarks• Preeminence• Provost Commitments• Salary increases and benefit changes
= Allocable Appropriation
Less:• Strategic Fund Allocation• UG Differential Tuition
= Allocable Tuition
Weighted SCH• 70% Teaching• 30% Enrollment
Weighted SCH• 70% TeachingPro Rata Share• 30% enrollment
Minus:• Waivers• Uncollected
Total RCM Appropriation and Tuition
ABOVE THE LINE
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CU
RRENTM
ODEL
Revenue Allocation
BELOW THE LINE
Non RCM Adjustments• Undergraduate Differential Tuition• Jump Start• Dean’s Start Up Packages• Faculty Enhancement• Misc. Provost Allocation• Salary Increases• Fringe Benefit Adjustments• Prior Year RCM Corrections• Legislative Earmarks• Strategic Funding• 1% Subvention• Preeminence
TOTAL STATE REVENUE
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CU
RRENTM
ODEL
Revenue Allocation
Other College Revenue
Entrepreneurial Activities
Contracts and Grants
Endowment Earnings and Gifts Other
TOTAL COLLEGE REVENUE
-
SUPPO
RTUN
ITCO
STS
Eight Cost Pools
Information Technology Bond Payment Facility General Administration HSC Administration Sponsored Project Administration Library Student Services
-
SUPPO
RTUN
ITCO
STS
Expense Allocation
Estimated Budget charged to all Responsibility Centers Overhead Tax Drivers
• Colleges –18 month annualized direct expenditures –IT, Gen. Admin., HSC Admin, SPA
• Weighted square feet – Facility• Weighted student, faculty, research staff headcount -
Library• Weighted student headcount – Student Services• Three Bond Payment
-
SUPPO
RTUN
IT
Budget Oversight
Each year, Support Centers will explain their value and services to a Budget Review Council to justify their budget requests
Council will be composed of representatives from colleges, VP areas, and faculty senate• 12-15, with rotating membership
Every five to six years, each Support Center will go through a “zero-based” budget review
-
STRATEGIC
FUN
D
Strategic Fund
Designed to support new or key initiatives• Central fund funded by tuition increases as well as
Pepsi fund, logo fund, etc.• Used at the discretion of the President and Senior
Vice Presidents
-
WEIG
HTS
WeightsCollege Name Lower Upper Grad I Grad II Grad III
Agricultural and Natural Resources 1.366 2.323 8.197 11.381
Business Administration 0.897 1.484 6.356 20.123
Dentistry 7.743 4.425 19.911
Design, Construction, and Planning 2.730 3.219 6.429 8.476
DOCE 2.241 10.430
Education 0.480 1.609 4.408 7.670
Engineering 1.623 4.842 9.932 13.119
Fine Arts 3.321 4.666 15.446 15.463
Health & Human Performance 1.318 1.596 6.663 10.371
Journalism & Communications 1.385 1.591 7.486 12.379
Latin American Studies 8.107 23.919 39.594 42.213
Law 7.002 20.874
Liberal Arts & Sciences 1.727 2.688 9.024 10.640
Medicine 6.844 7.018 14.011 26.453
Nursing 6.507 3.718 11.670
Pharmacy 6.975 3.986 12.510
Public Health & Health Professions 0.793 5.073 3.277 9.033
Veterinary Medicine 7.503 4.288 13.458 25.726
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CO
NCERN
SW
ITHC
URREN
TMO
DEL
If it Was Working Ideally…
What would it look like?
?
-
How do we best align RCM with what we want to incentivize? The university has two special structures: These special
structures have local business models that often do not align with RCM
Another special situation presents in the College of Liberal Arts & Sciences. It may present an attractive target for “poaching” students and credit hours. How to ensure appropriate funding for the college in the RCM model?
Related to that, how do we minimize colleges battling for undergraduates?
Does the phrase “each tub on its own bottom” really make sense in a large public institution like UF, where there is substantial cross-subsidization? If the goal of RCM is really to have each tub on its own bottom, what do you do with the colleges that are scraping bottom?
We are aware that there are multiple versions of RCM. Do you have opinions about which ones work best?
Provost QuestionsC
ON
CERNS
WITH
CU
RRENTM
ODEL
-
We may be the only public institution to install a full weighted cost of delivery model. Do you have opinions about the pros and cons of the model?
Comments on the best strategic fund model? Moving forward, what are the best models for the future? We have a centralized admissions process. Some deans have
spoken in favor of a decentralized admissions process, which would change radically the culture and processes of the institution.
How do you put planning and predictability into the model? Can RCM work with all the constraints under which the colleges
currently operate? Constraints are imposed by the state statutes and regulations and local policies.
Provost QuestionsC
ON
CERNS
WITH
CU
RRENTM
ODEL
-
CO
NCERN
SW
ITHC
URREN
TMO
DEL
Deans’ Common Concerns with Current Model
• Weights• Classification of space• Calculation too complicated• Budget is a surprise each year• Can’t predict outcomes of decisions• Degree production not incentivized• Retention not incentivized• Interdisciplinary programs not
incentivized• Research not incentivized (linear tax)• IDC vs SPA Tax• Tax Driver/Assessment Metrics
• Start up issues for entrepreneurial activities
• Capped enrollment• Tuition allocation• Waivers• Self funded courses lead
to faculty overload• Tax creep• Subvention• Strategic Fund
-
THEJOU
RNEY
Onward We Go
-
THEJOU
RNEY
RCM Committee Role and Responsibility
The Steering Committee: Defines the scope of the review process, project goals and
guiding principles. Ensures that the resulting project plan, implementation
efforts, and resources required align with the University’s strategic goals and initiatives.
Provides leadership and guidance for any decisions, issues, and risks that may be escalated by the RCM Task Force.
-
THEJOU
RNEY
Desired Outcomes and Guiding Principles
Incentivize Specific Activities
Simplify the Model
Model should be:
• Predictable
• Ensures alignment with University strategic goals
• Provides Clarity
Creation of Dedicated Provost Strategic Fund
-
THEJOU
RNEY
Scope of Review
Identify what is working
Review weights and their use
Review special deals
Review methodology for Base Budget and Subvention
Review methods for funding Provost Strategic Fund
Review how Tuition is allocated
Review performance metrics used by State
Review dependence on State timelines
Review Support Unit budgeting process
Provide ranked options/recommendations for changes to current model
-
THEJOU
RNEY
RCM Task Force Role and Responsibility
The Task Force: Will be responsible for performing a review of the current
RCM Budget Model and related business processes. Will identify the specific work streams to be carried out
based on guidance provided by the Steering Committee. Will create working groups as needed and make all work
assignments. Will provide guidance and support for participation from
within the university to enable appropriate decision making.
Will escalate issues to the Steering Committee when appropriate.
Will provide monthly status reports to the Steering Committee.
-
THEJOU
RNEY
Task Force MembersDirector of FinanceOffice of the DeanCollege of Journalism & Communications
Associate Vice President and DirectorHousing & Residence EducationDivision of Student Affairs
Dean, College of Liberal Arts and SciencesProfessor, Department of Chemistry
Senior Associate Dean & Director Hough Graduate ProgramsGeorge W. and Lisa O. Etheridge, Jr. ProfessorWarrington College of Business
Director, Office of Budget and FinanceIFAS
Assistant DeanFinance & Human ResourcesCollege of Public Health and Health Professions (PHHP)
Business ManagerCollege of Health and Human Performance (HHP)
Associate Dean for Academic AffairsProfessor of EducationCollege of Education
Associate Vice President, Finance and PlanningOffice of the Sr. Vice President for Health Affairs
Dean, College of Medicine
Dean, College of the Arts
Vice President of Student AffairsDivision of Student Affairs
Associate Dean for Administrative and Fiscal AffairsLevin College of Law
-
THEJOU
RNEY
Administrative MemoIn an effort to ensure UF’s budgeting process meets the needs of the university, the Office of the Vice President and Chief Financial Officer is conducting a 5-year review of the university’s budget model.
A steering committee composed of the university deans and vice presidents has been established to provide leadership and guidance for this effort. A task force composed of key representatives from throughout campus will work at the direction of the steering committee to review the current budget model and related business processes. For a list of the steering committee and task force membership, please visit the CFO website at cfo.ufl.edu.
The scope of this review is to identify what is working with the current budget model as well as how it might be improved in the areas of revenue and expense allocation. The review process is expected to occur over the summer through early fall—with recommendations provided to the Sr. Vice Presidents by the end of the calendar year.
If you have questions or would like more information please contact Greg DuBois, Vice President for Finance and Planning, at [email protected].
mailto:[email protected]
-
THEJOU
RNEY
Process and Timeline
Standing bi-weekly two hour long meetings Began in May with Steering Committee meetings Task force began work July 14
-
THEWO
RK
Research
John Curry’s responses to Provost Questions Phone Consultation with Malcolm White/Andrew Law - Huron EAB Consulting Engagement White Paper Review – Ohio State University, University of
Michigan, University of Illinois, Indiana University
-
THEWO
RK
John Curry’s Responses
-
THEWO
RK
Malcolm White/Andrew Law Conversation
-
THEWO
RK
University of Illinois
Very much like UF model in their early years – too much funded off the top outside of the model.
-
THEWO
RK
Indiana University
Support Units keep 40% of Carryforward.
Constraint model for Support Unit budgets.
-
THEWO
RK
University of Michigan
Guiding Tenant –General Fund revenues all flow to the central administration and it is the Provost’s task to determine budget allocations –model is simply an aid in developing the General Fund Budgets.
-
THEWO
RK
University of Minnesota
-
THEWO
RK
Ohio State University
Modified RCM model plus strategic investment of central funds. College Budget – Present Budget Allocation +/- Net Marginal
Revenue. Central tax funds Support Units. Compensation increases funded from college budgets. Model incentivizes colleges to teach more credit hours, increase
research activity, and release unneeded space.
-
THEWO
RK
EAB summary of reasons for peer changes: incentivize growth, improve budget transparency, control costs
EAB lessons learned:• Don’t Blame RCM for Everything • Keep It Simple - improves predictability• Budget Models Alone Don’t Solve the Problem • Growth Is the Only Solution
Education Advisory Board Summary
-
THEWO
RK
Committee Take-Aways
• General fund revenues all flow to central administration• Auxiliary unit’s budget lie outside of the general fund but are
taxed
• Activity based units receive a significant portion of their revenue as a function of what they do (Tuition & IDC)
• State subsidy used to help pay for General Fund Supplement and General Operating Budget
• Central Administrative units – Provost sets budget• Activity based units pay a set of taxes • Taxes based on Revenues
-
THEWO
RK
Things Considered Along the Way
-
THEWO
RK
-
THEWO
RK
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IDC AND
SPA
Indirect Cost Recoveryand
Sponsored Program Administration
-
SPA SUBCO
MM
ITTEE
SPA Subcommittee Role and Responsibility
The SPA subcommittee is responsible for a focused review of the Sponsored Projects Administration portion of the budget model and providing recommendations for changes to the Task Force.
Research enterprise is a significant factor at the University, and SPA is the only cost pool that had multiple components
Biweekly standing meetings - two hours
Work began September 16
-
Subcommittee Members
Dean, College of EngineeringAssociate Dean for Administration & Faculty Affairs, University LibrariesSr. Assoc. Dean, Div. of Grad Studies & Res, College of JournalismAssociate Dean of Research, HHPDirector, Office of Budget and Finance, IFASAssociate Dean for Research & Planning, PHHPAssociate Dean for Research & Grad Education, PharmacyAssociate Dean for Research & Scholarship, College of NursingAssociate Dean for Research and Graduate Programs, DCPAssociate Dean for Research, College of DentistrySr. Associate Dean & Director Hough Graduate Programs, BusinessAssociate Dean for Faculty Development, College of LawAssociate Dean for Research and Faculty Development, EducationAssistant Dean for Research & Faculty Programs, College of the Arts
SPA SUBCO
MM
ITTEE
-
Desired Outcomes
Minimize disincentives within expenditure-based model for accepting low IDC bearing grants and contracts
Simpler and more predictable model for IDC distribution
Minimize significant deviations to historical revenue streams during the transition to a new IDC model
Distribute returned IDC in a way that supports research operations and infrastructure, factoring in research costs and other available resources within units
SPA SUBCO
MM
ITTEE
-
SPA CU
RRENTM
ODEL
Significant Decisions Made
Grant expenditures would not be assessed overhead charges for IT, Gen Admin, HSC Admin, and Facilities.
Overhead charged on expenditures instead of Employee/Student Headcount or Revenue.
18 month (annualized) look back on expenditures. Training Grants earning less than 10% IDC will be exempt from
overhead assessment. Subcontracts $25,000 or greater would be exempt from
overhead assessment. Sub-pools would be used for IRB-1, IRB-2, IRB-3, IACUC, Animal
Care Services and Biostatistics
-
SPA CU
RRENTM
ODEL
Revenue Allocation
Distribution of F&A Assessed in Prior Fiscal Year
10% to Principal Investigators
7.5% to Departments
7.5% to Centers (optional)
75% - 82.5% to Colleges
-
SPA CU
RRENTM
ODEL
Revenue Allocation
Chart1
02 OFFICE OF PROVOST
04 OFFICE OF STUDENT AFFAIRS
11 RESEARCH / SPONSORED PROGRAMS
12 GRADUATE SCHOOL
13 COLLEGE OF THE ARTS
14 INFORMATION TECHNOLOGY
15 COLLEGE-DESIGN CONSTRUC / PLAN
16 COLLEGE-LIBERAL ARTS/SCIENCES
17 COLLEGE-BUSINESS ADMINSTRATION
18 COLLEGE-EDUCATION
19 COLLEGE-ENGINEERING
20 INTERNATIONAL CENTER
22 VP-GENERAL COUNSEL
23 COLLEGE-JOURNALISM / COMMUNICA
24 COLLEGE-LAW
26 COLLEGE-HLTH/HUMAN PERFORMANCE
27 OFFICE OF HEALTH AFFAIRS
28 COLLEGE-VETERINARY MED
29 COLLEGE-MEDICINE
30 COLLEGE-MEDICINE JACKSONVILLE
31 COLLEGE-NURSING
32 COLLEGE-PHARMACY
33 COLLEGE-PUBL HLTH / HLTH PROFS
34 COLLEGE-DENTISTRY
36 PHHP-COM INTEGRATED PROGRAMS
52 DIVISION-CONTINUING EDUCATION
55 UNIVERSITY LIBRARIES
56 FLORIDA MUSEUM NATURAL HISTORY
60 COLLEGE- AGRICUL / NAT RES
64 FINANCE / ACCOUNTING
CE TYPE ONE CENTERS
DI DW-DIGITAL WORLD
FY14 Data
FY 14 IDC Earnings
17314.13
26273.96
2013375.3
9597.88
1962.66
6228.38
535838.11
7512867.97
30818.01
1544562.49
12988372.06
37977.46
3600
12504.17
36891.41
842614.35
-622.4
1809279.66
27925013.72
2120141.53
168964.45
1934982.77
3113978.92
3285145.38
1307012.07
4727.92
97845.67
1060305.9
10904855.49
34.21
3795573.85
9788.93
_1
Last Update: Tuesday, October 07, 2014 UFLOR by Expense Account across Fiscal Years
[Facilities and Administration][2014][Accounting Period Type][Budget Period][All Departments][All Budget References][All Employees (UFID/Name)][All Flexfields (College/Dept/Flex)][All Funds (by Ledger Group)][All Sources of Funds][All Programs][All CRIS (IFAS Only)][Oper / NonOper Funds]General Ledger Actuals
College/UnitFY14 IDC Earnings
02 OFFICE OF PROVOST17,314
04 OFFICE OF STUDENT AFFAIRS26,274
11 RESEARCH / SPONSORED PROGRAMS2,013,375
12 GRADUATE SCHOOL9,598
13 COLLEGE OF THE ARTS1,963
14 INFORMATION TECHNOLOGY6,228
15 COLLEGE-DESIGN CONSTRUC / PLAN535,838
16 COLLEGE-LIBERAL ARTS/SCIENCES7,512,868
17 COLLEGE-BUSINESS ADMINSTRATION30,818
18 COLLEGE-EDUCATION1,544,562
19 COLLEGE-ENGINEERING12,988,372
20 INTERNATIONAL CENTER37,977
22 VP-GENERAL COUNSEL3,600
23 COLLEGE-JOURNALISM / COMMUNICA12,504
24 COLLEGE-LAW36,891
26 COLLEGE-HLTH/HUMAN PERFORMANCE842,614
27 OFFICE OF HEALTH AFFAIRS(622)
28 COLLEGE-VETERINARY MED1,809,280
29 COLLEGE-MEDICINE27,925,014
30 COLLEGE-MEDICINE JACKSONVILLE2,120,142
31 COLLEGE-NURSING168,964
32 COLLEGE-PHARMACY1,934,983
33 COLLEGE-PUBL HLTH / HLTH PROFS3,113,979
34 COLLEGE-DENTISTRY3,285,145
36 PHHP-COM INTEGRATED PROGRAMS1,307,012
52 DIVISION-CONTINUING EDUCATION4,728
55 UNIVERSITY LIBRARIES97,846
56 FLORIDA MUSEUM NATURAL HISTORY1,060,306
60 COLLEGE- AGRICUL / NAT RES10,904,855
64 FINANCE / ACCOUNTING34
CE TYPE ONE CENTERS3,795,574
DI DW-DIGITAL WORLD9,789
Total83,157,826
&L&C&R
&L&C&R
_1
FY 14 IDC Earnings
-
SPA CU
RRENTM
ODEL
Expense Allocation
Estimated Budget for units charged to all Responsibility Centers
Overhead Tax Drivers
• SPA – 18 month annualized direct research expenditureso Includes usage-based Sub-Pools
• Bond Payment – Medicine, IFAS, CLAS In most cases, colleges offset SPA/Bond Payments against IDC
returns
Sponsored Project Administration (avg) 9.75% 10.67%
FY 2016 FY 2015
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THEWO
RK
Things Considered Along the Way
Exemptions (training grants, tuition, pass-throughs)?
How to address (incentivize) strategic awards (Keck, etc.) that may not carry significant F&A?
How to incentivize interdisciplinary research?
Model may involve both a formula-driven component and a fixed component
Should the Research Enterprise be funded “off the top”, as fee-for-service, or some mixture of the two?
If the Research Enterprise is funded “off the top” what accountability is there for the Vice President for Research?
-
THEWO
RK
Things Considered Along the Way
The university has a research infrastructure that must be supported, currently that infrastructure is approx. $40M.
IDCs on low IDC grants/contracts, below a floor of 10%, would fully contribute to the SPA tax.
All IDC will be distributed to college Deans (or comparable administrative units) for subsequent internal distribution, net of SPA taxes.
PI’s, departments and centers will not receive an IDC distribution from any projects where the IDC rate is at or below a college’s average SPA rate.
The deans and VPs support the university’s research goals by making investments in our infrastructure. As such, internal transfers within the 2xx series of fund codes and used to purchase equipment and renovate space would not be subject to SPA tax
A statement regarding returns to the PI should be a minimum of 10% of the IDC returns for all projects with full IDC returns.
-
Started by reviewing entire SPA budget and how funds were utilized
Reviewed portfolio of projects by unit Average F&A rate Projects generating less IDC than tax
Negative IDC Fund
Reviewed historical percentages of IDC that units retained after taxes
BU
ILDING
AN
EWM
ODEL
Model Development
-
BU
ILDING
AN
EWM
ODEL
Model Development
Taxing Revenues
Single Year Impact
“Exceptions” Implicit
No disincentive for accepting low IDC grants
Tax cannot exceed revenue
Taxing initial revenue eliminates the need to tax IDC, residuals, strategic support
Correlation between revenue and costs to institution?
Taxing Expenditures
Lookback Impacts
Explicit exceptions
Disincentive for accepting low IDC grants
Requires subsidies
Previously taxed expenditures in all grant-related funds
Tax based on usage of resources
vs.
-
BU
ILDING
AN
EWM
ODEL
Model Development
Deduct research enterprise costs from gross IDC revenue
Distribute net IDC proportional to gross earnings
Similar model, with low IDC grants (below tax rate) excluded
-
BU
ILDING
AN
EWM
ODEL
Model Development
Revenue tax on IDC
• 3 Tiers• Higher average IDC rates resulted in lower tax rate tiers
Similar model, with tax rate a function of a unit’s average IDC rate
• Effectively a continuous sliding scale instead of distinct tiers• Higher average IDC rates resulted in lower tax rates
-
BU
ILDING
AN
EWM
ODEL
Model Development
Hybrid Model
• Central SPA costs taken “off-the-top”• Sub-Pool costs allocated based on usage
-
The New World
YEAR1 C
HANG
ES
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YEAR1 C
HANG
ES
Year 1 Changes Implemented – 2016-17 Colleges
General fund revenues (Tuition, State Appropriations) all flow to central administration – then distributed to Colleges
Colleges receive a significant portion of their revenue as a function of what they do (Tuition & IDC)
Distribute all (collected/net) tuition using 70/30 teaching/enrollment except for new undergraduate student out of state fee – Differentiate tuition from fee
Tuition revenue determined using terms from CY 2015 (Spring, Summer, Fall 2015)
Revenues from new undergraduate out of state students (Fall 2015 –300 new students = approx. $3.6m) will establish the Provost Strategic Fund
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YEAR1 C
HANG
ES
Year 1 Changes Implemented – 2016-17 Colleges
State appropriation used to help pay for General Fund Supplement
Distribute General Fund Supplement to hold harmless for FY 2017 – same budget as FY 2016 – with additions for FY 16 raises, Preeminence changes, PO&M
General Fund Supplement will be the same in future years unless significant or strategic changes occur
OH assessed using fixed rates on revenues (GA/IT 10%; 2.15% HSC), Facilities no change – commitment is that support units costs will be managed and controlled to stay within this budgeted revenue stream – significant unfunded mandates may require special assessments
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YEAR1 C
HANG
ES
Year 1 Changes Implemented – 2016-17 Colleges
Provost in consultation with Sr. VPs sets budgets for Support Units
Library and Student Services funded by the Provost
State funded Service Centers and other appropriated units funded by State appropriation
Other distribution/assessment arrangements stay the same for the upcoming budget year (FY 17)
Auxiliary unit’s budgets lie outside of the general fund but pay tax on expenditures
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YEAR1 C
HANG
ES
Year 1 Changes Implemented – 2016-17 Sponsored Program Assessment
Revenue is shared based on a percentage of total accrued IDC to a given unit in the prior year.
The percentage applied for the Sponsored Program Assessment is not the same for all units. Instead, there are four tiers:• Tier 1 (36.8%): High research intensity, high in-unit research
infrastructure costs, little or no additional resources to support research infrastructure
• Tier 2 (49%): High research intensity, high in-unit research infrastructure costs, some additional resources available to support research infrastructure
• Tier 3 (53.5%): Units with research portfolios that have additional resources to support research infrastructure, lower in-unit research infrastructure costs, or have lower research intensity
• Tier 4 (75%): Units with little or no research activity; 25% of the returned IDC is reserved in the event that a PI, dept, or center is eligible for returned IDC under UF policy.
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YEAR1 C
HANG
ES
Year 1 Changes Implemented – 2016-17 Sponsored Program Assessment
The overall model was required to collect very near the same total amount of assessment as was collected in FY 16, effectively using FY 16 as a baseline
The individual percentages for each tier were optimized to yield manageable shifts in the assessment within the context of FY 16.
No change to existing distribution policy for PI’s, Departments or Centers
As the research portfolio grows, this model allows the available resources for central research services supported by SPA (Office of Research, Contracts & Grants, EH&S, Cost Analysis) to increase proportional to IDC growth. In addition, this same group of units will need to be able to withstand fluctuations downward in IDC in any given year.
-
YEAR1 C
HANG
ES
Year 1 Changes Implemented – 2016-17 Sponsored Program Assessment
-
YEAR2
Items Yet to be Considered
Auxiliary Tax Graduate Student Waivers Facility Tax Other Distribution/Assessment Arrangements Dual Degrees – 2 diplomas/2 colleges Subvention
Re-envisioning your Budget modelYour PresentersThe University of FloridaThe University of FloridaThe University of FloridaThe University of FloridaThe University of FloridaThe University of FloridaCurrent ModelCurrent ModelCurrent ModelCurrent ModelCurrent ModelCurrent ModelSupport Unit CostsSupport Unit CostsSupport UnitStrategic FundWeightsConcerns with Current ModelConcerns with Current ModelConcerns with Current ModelConcerns with Current ModelThe JourneyThe JourneyThe JourneyThe JourneyThe JourneyThe JourneyThe JourneyThe JourneyThe WorkThe WorkThe WorkThe WorkThe WorkThe WorkThe WorkThe WorkThe WorkThe WorkThe WorkThe WorkThe WorkIDC and SPASPA SubcommitteeSPA SubcommitteeSPA SubcommitteeSPA Current ModelSPA Current ModelSPA Current ModelSPA Current ModelThe WorkThe WorkSlide Number 55Building a New ModelBuilding a New ModelBuilding a New ModelBuilding a New ModelYear 1 ChangesYear 1 ChangesYear 1 ChangesYear 1 ChangesYear 1 ChangesYear 1 ChangesYear 1 ChangesYear 2